On the 2 Yard Line vs. The End Zone [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] Anxious Buyers competing for a home in multiple offers today understandably...Read More
Seller Misconceptions “Sunk Cost”: a retrospective (past) cost that has already been incurred and cannot be recovered. —Wikipedia What Sellers paid for their home ” and how much they subsequently put into it (for improvements, updates, etc.) ” are important psychologically.* And, depending on how much the would-be Seller currently owes on their home, the sum of their cost + improvements...Read More
Too Much Information ” Realtor Version Living Rm: 13.4′ x 26′ Dining Rm: 9.2′ x 13′ Family Room: 16.7′ x 29.8′ Kitchen: 9.5′ x 16′ Bedroom #1: 14′ x 19.1′ Bedroom #2: 22′ x 14.6′ Bedroom #3: 8.1′ x12′ Bedroom #4: 12′ x14.4′ —Excerpt, MLS Listing What’s the corollary to “The Too-Precise Price?” The too-precise...Read More
Beauty in the Eye of the Beholder Buyer When should a listing agent (representing the Seller) explicitly acknowledge in their marketing that a home “needs cosmetic updates” (or the equivalent)? Less often than you might guess. Here are my three reasons why: One. The pictures tell the story. For years, websites like EdinaRealty.com have allowed...Read More
In a supposedly paperless world, why does anyone still need something to correct paper mistakes? I know at least one, non-standard application: touch-up paint for Realtor sign riders. 🙂 It’s not as good as white nail polish, and not as water-repellent (or long-lived) as oil-based paint, but in a pinch . . . it’ll do!Read More
“In Buyer’s Sole Discretion” Seller has agreed to sell the Property to Buyer for the sum of ($____________ ), which Buyer agrees to pay in the following manner: 1) _____ percent (%) of the sale price in CASH, or more in Buyer’s sole discretion, including earnest money . . . ” —Lines 38. – 41., standard Minnesota Purchase...Read More
